The Pataliputra Central Co-operative Bank Ltd., Bihar

RBI imposed a monetary penalty of ₹2.02 lakh on The Pataliputra Central Co-operative Bank Ltd., Bihar. The action was for non-compliance with KYC directions and CIC-related requirements.

The bank must address the compliance gaps identified by RBI, particularly around KYC risk categorisation reviews and reporting customer credit information to CICs. The monetary penalty has no stated direct operational ban, but RBI may initiate further action if it deems necessary.

• Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949
• Section 25 read with Section 23 of the Credit Information Companies (Regulation Act), 2005

RBI imposed a ₹1.50 lakh penalty on The Patliputra Central Cooperative Bank Ltd, Bihar for non-compliance with deposit fund and KYC directions. The bank was found deficient in transferring eligible amounts, risk categorisation, and periodic KYC updation.

The bank must absorb the monetary penalty and address the identified compliance gaps going forward. The action does not impose a business restriction, but it underscores RBI’s expectations on deposit fund transfers and customer due diligence/KYC controls.

• Section 47-A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949